Buffeted by rising costs and a tight labor market, smaller companies may be ready to shake up the way they shop for employee benefits.

That, at least, is the hope of Nava Benefits, a New York-based brokerage firm that uses technology to bring big-company benefit packages to smaller employers while lowering costs.To take advantage of the opportunities it sees ahead, the company has raised $40 million in a Series B round led by Thrive Capital, a venture capital firm in New York. The investment, disclosed in early June, builds on the $20 million Nava raised in seed and Series A rounds.

“We’re at a sea change where benefits are changing a lot. The needs of the buyer have shifted a lot,” Nava co-founder and CEO Brandon Weber said in a video interview. “And Nava aims to play a pretty big role in modernizing the benefits marketplace.”

Read more: https://medcitynews.com/2022/06/investors-funnel-40m-into-high-tech-benefits-brokerage/